Member Info for Ilovesushi

If you look at todays news we can conclude this is all a plan to put the company into the hands of the Bond Holders and those who own debt. They take shares only to crystallise a percentage of ownership. Soon or later and probably sooner this falls into the hands of debt holders only. Shareholder's are bottom of the pile. More share issues to come and more convertibles to convert at a lower price. No value left for Shareholders and no reason to buy the shares here when more dilution has to take place. And if production is not such and such all waivers are off and its administration. The management has to protect the debt holders above shareholders. Debt holders destined to take ownership. This could all be over very quickly.

Another new one year high. Higher and Higher highs. Always a good sign.

Going much higher. Back to 60 pence and onwards from there. Super profitable outfit now at the current share price. Expect big uptick in profits...

Is that right? All future convertible bonds now issued at parity? 0.15p? How many billion shares will that be? Anyone worked that out yet? Is that 10 Billion shares or more? Maybe 20 Billion? More? My God

£7.42m is far too low. Venerable to bid by a bigger player who wants our resource.

It was either that or administration. Administration has been avoid for the time being. As production is so low any earnings will not cover remaining debts. This issue has just pushed the can down the road. More dilution to come and when they can issue and sell shares then this outfit will be put into administration. Next fundraise if they get one away will be 0.05.p

Were many of these shares to be issued pre-sold. Would explain the massive fall.

The company has a production target for 2024 of 2,000bopd. Obviously the oil is not going to come up as quickly as expected and now one must wonder if such a well even depletes quickly. This well looks sickly and one now has to think of downgrading the so called 1 Bbn barrels of oil. Wildly exaggerated discovery.

Back in January COPL were stating estimates of total reservoir volume of the discovery to be 1.5 billion bo.

Now in the last few days they have announced that their goal per barres per day in 2024 will be 2,000bopd. One now has to ask were there really 1.5 B bo. And if there were that amount why is it no one wants to join them to get at that oil?

Now lets go back to that competent persons report on which all this was built. Surely there is going to have to be downsizing of this discovery. perhaps to a few hundred thousands of barrels? Its amazing it got that last fundraise away. Questions to be asked here. Shocking how this has all collapsed.

One poster earlier stated:

"The best chance to get any value for our shares is through a sale of assets".

The bond holders (or those that hold the debt) call the shots. They are not going to leave anything for the shareholders. Shortly there will be an RNS stating that there remains little of any value left for the shareholders. Soon after and in no particular order, the shares will be suspended and the administrators called in. This is all owned by those whom hold the debt. They will now do what ever is necessary to get that debt and the managements first responsibility is to protect any value that is left and get it to those whom debt is owned. To all shareholders expect total wipe out. There is a reason why the CEO resigned. Shareholders are at the bottom of the ladder. Or are just to fall off the bottom of the rung. It is all over. The value of the assets do not cover the debt.

Suspension of the shares or straight to administration in the new year. Its not going to survive and its no wonder the CEO resigned. He may stay on as a director to see the wind up of the company.

It looks like it can only raise through dilution about £500,000 and then have to issue 300 Million shares which would completely wipe out any remaining shareholders. Then how long cold the company run on such a minimal amount of money raised?

There comes a point for companies like this when issuing shares no longer works. This is such a time. Is there a white Knight out there willing to fund this outfit?

It is now not possible to issue shares at 0.10 - 0.15 as it would raise so little. Looks like the end of the road and it is heading towards administration as funds are exhausted, some of which was put into carbon capture. When it did this, this diversification should have been seen that the company had failed with it main product. Suspension of the shares is the first stop.

Easiest way to get into gold is to buy shares in Gold mines. SRB is a good share for continued growth. Looks like it is heading to 60 pence plus.

Strong buy for big gains.

If it does dilution which could be a very hard sell, at most with a 50% dilution it would have to issued 300 million shares. But only then it would raise £500,000. How long would that last really? 1 month 2?

I expect the company to not survive the 1st quarter and it will fall into administration. Dire Christmas sales to be announced and then not long after suspension of share trading.

Avoid. There is one last scenario it could be bought out. But who want the product which cannot sell? Curtains to close in the first few months of 2024. RIP

Its got to be in the region of 0.15p. If it does not get away administration beckons. Not much cash can be left and they must be doing doing the rounds to find a funder. If that fails which is very likely its certainly administration. Expect poor or dire Christmas sales. Its the end of the round sadly. On a successful fundraise at 0.15 pence, all investors will be wiped out with little value left in their holding. The next fundraise will not keep the business running for long. Will not survive the next quarter. Seaweed business with not help.

New 1 year high. Expect it to go higher now. More new highs.

Gold looking very good. Best way to get into gold is buy Gold shares. SRB to rise higher as increase in price goes to the bottom line. Bigger profits a certainty and so a rising share price.. Huge upside.

New All Time Lows.

And expect it to go lower. Much lower. With coal prices at this level the company cannot continue to operate. Losses will get larger as prices continue to drop as there is over-supply. All reasons this could eventually head back to being mothballed.

You cannot continue a business where it costs more to operate than income received. This is very very very bad. Heading to 5.0 and below.

Reasons to be cheerful.

1. "The Company is one of the handful of significant current producers of graphite ex-China".

2. "The Company has received increased inquiries from around the world for supplies of its products, including from OEMs and EV manufacturers".

Share price to rise higher...